Markets witnessed a historic day on Tuesday, with benchmark indices Sensex and Nifty50 hitting fresh all-time highs. However, due to ​profit-taking at higher levels, the Nifty slipped 95 points from the intraday record high of 12,132.50 to settle at 12,037.70. For today, the momentum is definitely intact and the 'buy on dips' strategy is likely to continue.

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Here are a few cues to corroborate this view:

Foreign investors bought for 5th consecutive day on Tuesday.

FIIs infused Rs 4,677.7 crore in capital markets largely due to ICICI MCSI rebalancing.

Global markets are in a very strong bull grip. The US markets ended at all-time highs overnight.

The Dow, Nasdaq and S&P 500 saw their 10th record close of the month.

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Although this is a strong bull run, there are a few cues to watch out for:

On Friday, we will get the Q2 GDP data print and the expectation is that it could be a sub 5 percent print this time.

On Sunday, December 1, we will get auto sales for the month of November and most automakers have indicated this months print will be subdued and retail sentiment has not improved.

Also Read: 7 signs that Nifty at 12,000 is not the peak but the beginning

Here are some stocks to watch out for in today's trade:

Yes bank could be in the green as the board will meet on Friday to approve fundraising.

Cipla may remain under pressure as the USFDA has Issued four observations to the drug firm's Patalganga plant.

ICICI Bank surged to a life-time high as MSCI rebalancing came into effect​.

Morgan Stanley has a very bullish view on HDFC, with an "Overweight" call. The brokerage raised the target to Rs 2,900 from Rs 2,600 per share.

First Published:Nov 27, 2019 8:42 AM IST